Schlagwort: blockchain analysis

• Chainlink (LINK) faces resistance despite a recent 22.14% monthly price gain.
• On-chain data shows selling pressure and weak buyer momentum.
• DeFi integrations support a long-term bullish outlook for Chainlink.

Chainlink, a prominent decentralised oracle network, is currently navigating a pivotal phase as the price of its native token, LINK, grapples with mounting selling pressure.

Although LINK has enjoyed notable gains in recent weeks, the broader market sentiment reveals a fragile balance as technical and on-chain indicators flash warning signs of a potential correction.

Profit taking outweighs LINK accumulation impact

Despite recovering to a recent price of $15.99, marking a robust 22.14% gain over the past month, Chainlink’s upward momentum appears to be tapering off amid weakening demand.

The recent climb, which began in late April 2025, was largely fueled by investor accumulation and strategic withdrawals from exchanges, suggesting long-term holding behaviour.

According to CryptoQuant data, over the past two weeks, approximately $66 million worth of LINK has been moved out of cryptocurrency exchanges, a move typically interpreted as a bullish signal.

However, this accumulation has yet to overcome the short-term pressure exerted by traders taking profits following the token’s earlier surge above the $15 threshold.

Chainlink price outlook

Chainlink’s current trading range, tightly constrained between $14.84 and $18.00, underscores a period of consolidation that could precede either a breakout or a downturn.

Although the asset recently breached key levels earlier in May, its failure to sustain higher highs has introduced hesitation among bullish investors.

Technically, LINK is encountering a long-standing descending trendline that dates back to December 2024, forming a structural resistance zone now under repeated testing.

This trendline, validated through several contact points across February and May 2025, continues to limit upside potential unless decisively broken.

Market analysts suggest that a confirmed breakout above this descending resistance could initiate a stair-step rally toward resistance levels at 17.28, 18.00, and even 21.99 USDT.

Nonetheless, indicators such as the On-Balance Volume (OBV) and Mean Coin Age paint a more cautious picture, revealing a decline in buying pressure and a tendency for holders to liquidate.

The OBV’s persistent downtrend signifies increased distribution, while Mean Coin Age data implies that long-held tokens are re-entering circulation.

Furthermore, Chainlink’s Stochastic RSI hints at the potential for a short-term rebound, yet without sustained volume and broader market participation, such movements may remain fleeting.

Adding to the complexity, liquidation heatmap data has exposed dense liquidity zones near $14.80, highlighting a possible 7–8% drawdown if bearish pressure intensifies.

The presence of heavy liquidation volumes around local highs of $17.30 also underscores the vulnerability of any unconfirmed breakout attempts.

Although short-term weakness remains evident, Chainlink continues to benefit from its increasing integration within the decentralised finance sector.

Key partnerships, including collaborations with JPMorgan’s Kinexys, Ondo Finance, and deployment on the Solana mainnet, have reinforced LINK’s role as a crucial data bridge in blockchain ecosystems.

The adoption of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) in these networks further strengthens its utility, enabling secure cross-chain data exchange for smart contracts.

These integrations are not only expanding Chainlink’s use cases but also setting the foundation for potential long-term appreciation once market sentiment recovers.

Currently, LINK’s position above the 200-day moving average and within a rising channel pattern supports the broader bullish structure that has yet to fully materialise.

Nevertheless, with the Relative Strength Index (RSI) hovering at 54.92, sentiment remains neutral to slightly bearish, indicating that bulls have not regained firm control.

The BBPower reading of 1.37 reflects a slight advantage for buyers, though it lacks the confirmation required to suggest a sustained rally.

In conclusion, while Chainlink’s long-term outlook remains positive thanks to DeFi growth and increasing utility, the short-term narrative is clouded by on-chain selling and technical resistance.

The post Chainlink price prediction amid increased selling pressure despite DeFi integrations appeared first on CoinJournal.

• Trading below the 100-hourly SMA, signalling bearish momentum.
• Key support levels are $2.280, $2.260, and $2.2320.
• Bulls need a clear move above $2.3720 to shift short-term trend.

XRP has lost momentum again, dropping by 1.05% over the last 24 hours to trade at $2.29.

After a brief attempt to recover, bulls failed to break through the $2.36 resistance zone, leading to renewed selling pressure.

Market data from Kraken shows the XRP/USD pair remains under its 100-hourly Simple Moving Average (SMA), with technical indicators pointing to a potential retest of key support levels if selling continues.

This latest decline follows a modest bounce from a local low of $2.2670 earlier in the week.

XRP’s price action reflects broader weakness in the crypto market, where top tokens are struggling to maintain momentum amid macroeconomic uncertainty and regulatory headwinds.

Rising expectations of delayed interest rate cuts in the US have added pressure across all major risk assets, including cryptocurrencies.

XRP faces heavy resistance at $2.36

XRP briefly rallied above $2.320 and $2.350 earlier in the week, even climbing past the 23.6% Fibonacci retracement of the downward wave from $2.4768 to $2.2670.

It also broke a key descending trend line at $2.305, offering short-term optimism.

However, this recovery stalled at the $2.360 level—currently acting as the first major resistance.

Without a clear breakout above this zone, bears regained control, pushing the price back down to $2.29.

A move above $2.3720, which aligns with the 50% Fib retracement, would be needed for momentum to turn.

Until then, XRP remains technically weak and vulnerable to further short-term declines.

Price at risk of deeper decline below $2.260

XRP is now hovering just above the $2.280 support zone.

A sustained break below this could send the token toward $2.260. Below that, support levels sit at $2.2320 and $2.2000.

The 100-hourly SMA continues to act as a barrier to upside movement, and the chart structure still shows lower highs, confirming a bearish trend.

A close above $2.360 would be needed to change short-term sentiment, but with selling pressure intensifying, further downside remains a possibility.

Meanwhile, Ripple Labs, the company associated with XRP, continues to expand its partnerships and utility-based applications globally, including ongoing developments in central bank digital currency (CBDC) platforms.

However, these advancements have yet to translate into consistent price support for the XRP token, which remains closely tied to speculative flows and broader market sentiment dynamics.

Wider market uncertainty weighs on altcoins

The drop in XRP mirrors caution across the broader digital asset market.

Bitcoin and Ethereum have also faced resistance in recent sessions, with traders reluctant to make strong moves ahead of macroeconomic data from the US.

With no immediate bullish catalysts and interest rate speculation weighing on investor sentiment, altcoins are particularly vulnerable to further downside movement.

XRP’s next moves will likely depend on whether it can hold above the $2.260 zone.

A breakdown could extend losses and signal a deeper correction, while any bounce will require a clear move above the $2.36 and $2.3720 levels to be sustained.

The post XRP drops 1.05% to $2.29 as key resistance blocks further gains appeared first on CoinJournal.

• ADA is currently priced at $0.7677, down 0.04% in the last 24 hours.
• A bullish MACD crossover has formed, supporting short-term upside.
• ADA futures open interest dropped 0.43% to $920.12 million.

Cardano (ADA) has recorded an 11% monthly gain so far in May, buoyed by a technical bounce from the $0.72 support level.

However, underlying market indicators raise caution.

Despite recent bullish momentum, ADA continues to struggle within a tight trading range and faces potential bearish pressure from weakening derivatives data.

At the time of writing, ADA is priced at $0.7677, reflecting a minor 0.04% decline over the last 24 hours.

On the 4-hour chart, ADA rebounded from the 200-period exponential moving average (EMA) at $0.74, climbing toward a short-term resistance level of $0.7745.

This movement marks the latest attempt to retest the $0.84 resistance zone, which Cardano last approached on 13 May and 23 May.

Yet, the upside move has been met with hesitation.

The token remains stuck between the key $0.72 and $0.77 levels — a range that analysts are closely monitoring as a “no-trade zone” due to limited directional clarity.

Mixed technical signals

Currently, ADA is consolidating above the 200-day EMA, with the moving average structure offering some near-term support.

The MACD indicator has formed a bullish crossover, further confirmed by positive histogram bars.

This setup suggests that buyers still maintain some control over short-term price action.

However, not all technical signals are aligned. A bearish crossover between the 50- and 100-day EMAs is beginning to form.

If ADA breaks below the 200-day EMA, this crossover could result in a “death cross” scenario — a historically bearish technical pattern that often signals extended declines.

Cardano’s ability to maintain momentum will likely depend on whether it can break through the $0.77 resistance barrier.

A successful breach could lead to a rally back toward the $0.84 level.

In contrast, failure to hold above $0.72 could see ADA retesting longer-term support near $0.70.

Derivatives data weakens

While spot prices hold firm, data from the derivatives market presents a less optimistic view.

According to CoinGlass, open interest in ADA futures contracts has declined 0.43% to $920.12 million.

This declining activity in the derivatives space reflects weakening trader interest and reduces the likelihood of a strong breakout.

It also indicates that large speculative positions are being trimmed or closed, a trend that often leads to price consolidation or short-term reversals.

ADA at a critical level

Cardano’s price action now depends on whether it can decisively break out of its current range.

While there is potential for a move back to $0.84 if bulls regain momentum, current market dynamics suggest ADA could remain range-bound or even experience renewed selling pressure.

Volatility in the broader crypto market has also contributed to ADA’s stagnation.

Bitcoin is currently holding near the $109,000 level, and major altcoins are consolidating after strong April rallies.

Without a strong catalyst, Cardano may struggle to attract fresh inflows in the short term.

As of now, ADA remains in a technical holding pattern, with both bullish and bearish scenarios in play.

The next few trading sessions will be critical in determining whether Cardano can reclaim its March highs — or face another leg lower.

The post Cardano gains 11% in May, but weak derivatives data hint at looming pullback appeared first on CoinJournal.

• Cardano has surged more than 65% since its April low of $0.5114.
• Derivatives open interest hits 2025 high of $917 million.
• A breakout above $0.85 could send the price to $0.93 in the near term.

Cardano’s ADA token is once again in the spotlight after bouncing sharply from its April lows to reclaim the $0.80 mark.

The move follows a surge in Bitcoin to a fresh all-time high of $111,861 on 22 May, which lifted sentiment across the crypto sector.

This broader market optimism has pushed ADA up over 65% from its recent trough, fuelling a renewed bullish narrative.

Analysts are now watching closely to see if Cardano can sustain momentum and test the next resistance zone near $0.93 in the days ahead.

At the time of writing, Cardano is trading at $0.8026.

Cardano price structure signals upside continuation

Cardano’s current rally comes after a volatile two-month stretch that saw its price tumble from $1.19 on 2 March to a low of $0.5114 by 2 April — a 57% decline driven largely by profit-taking.

Since that low, ADA has steadily climbed, reclaiming $0.84 on 10 May before a minor pullback to $0.71 on 19 May.

The rebound above $0.80 this week suggests resilience in bullish structure, characterised by higher lows and a break above a rising trendline.

Key Fibonacci retracement levels show support at $0.7526 (0.236 Fib) and immediate resistance at $0.8533 (0.5 Fib).

A confirmed breakout above this zone could lead to a retest of $0.934 (0.618 Fib) in the short term.

This price structure is further reinforced by the RSI, which recovered from 45–48 last week to 61.13 on 22 May, indicating strengthening buying momentum.

The MACD also completed a bullish crossover on 21–22 May, and green histogram bars have continued to expand, adding confirmation to the upward trend.

BBTrend, volume, and derivatives metrics confirm momentum

The BBTrend indicator, which measures directional strength based on Bollinger Band volatility, has flipped significantly, moving to +8.9913 — the most bullish reading in months.

This shift signals not only increased price volatility but also a directional tilt in favour of bulls.

Volume and derivatives data further confirm the bullish outlook. Open interest in ADA-related derivatives markets has surged to $917 million, the highest level seen in 2025.

This jump in open positions suggests increased confidence and capital deployment from traders, which supports the sustainability of the ongoing rally.

Spot trading volumes have also picked up after a slow start to the month, indicating stronger retail participation as ADA regains price levels not seen since March.

Key price levels to watch this week

Traders are closely watching the $0.85 resistance zone. A successful breakout above this could accelerate gains toward $0.93–$0.94 over the next 7–10 days.

On the downside, the $0.75–$0.77 support band remains critical. A breakdown below this range could expose ADA to deeper losses, possibly toward $0.72 or even $0.647 if selling pressure increases.

While the overall technical setup remains bullish, much depends on whether the price holds key support levels and maintains current volume momentum.

The post Cardano price surges past $0.80: where is ADA headed? appeared first on CoinJournal.